According to the Chartered Institute of Personnel and Development  more than 40 per cent of employers have noticed a rise in reported mental health problems among employees in the past year. It also found the private sector was particularly poor at supporting employees with mental health problems. About a third offered a counselling service, compared with 70 per cent of public sector organisations.

The City of London, heart of the country’s financial services industry, is particularly stressful. Judith Mohring, lead consultant psychiatrist at the Priory Wellbeing Centre in the City of London, says that although it is “now accepted that you don’t have to be mad to see a psychiatrist,” there is no consistent approach among companies. “It varies from employer to employer and really depends on who is in charge,” she says.

Employees at the Bank of England, the UK’s central bank, have access to an on-site counsellor. Goldman Sachs, the investment bank, offers psychotherapy and crisis management. Auditing firm Deloitte UK has established a network of “mental health champions” who help line managers identify the early stages of mental ill-health or depression.

Smaller firms, though, lack a conclusive approach to deal with work related issues of stress and depression. Private health insurer Bupa found that although three-quarters of business leaders believed they had encouraged managers to address and support employees’ mental health, only a third of staff agreed their organisations had effective support systems.

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Bankers on the verge of a nervous breakdown